Goldman Sachs ramps up Bitcoin and Ether trading services
Goldman Sachs Bitcoin and ETH
Goldman Sachs is intensifying its focus on cryptocurrency, unveiling a suite of services aimed at institutional investors as Bitcoin and crypto-linked ETFs experience unprecedented growth.
This strategic pivot comes on the heels of a 30% surge in Bitcoin prices over the past month, with the cryptocurrency trading near $98,000 as of press time, according to the Cryptopolitan.
Wall Street Crypto Leadership
In a recent client note, the investment banking giant highlighted its expanded crypto capabilities, available across key jurisdictions, including the US, UK, Switzerland, and Australia.
Services include trading Bitcoin (BTC) and Ethereum (ETH) futures through CME clearing, over-the-counter (OTC) non-deliverable forwards (NDF), and options (NDO). Additionally, Goldman offers access to Bitcoin and Ether exchange-traded products (ETPs), including leading ETFs like the ARK 21Shares Bitcoin ETF and Grayscale Bitcoin Trust.
The surge in institutional interest follows the election of President Donald Trump and his appointment of crypto advocate Paul Atkins to lead the SEC.
Atkins’ pro-crypto stance contrasts sharply with outgoing Chair Gary Gensler’s enforcement-heavy approach, sparking optimism within the industry. Bitcoin-linked ETFs have amassed nearly $10 billion in inflows since the election, pushing cumulative net assets to $112.74 billion.
Goldman Sachs’ renewed focus on crypto underscores Wall Street’s growing embrace of digital assets. According to Ram Ahluwalia, CEO of Lumida, Goldman’s proactive approach signals a broader shift among financial institutions under the new administration.
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As crypto adoption accelerates, Goldman Sachs’ initiatives could position it as a leader in institutional crypto services, solidifying Wall Street’s role in the evolving new digital economy.
Goldman Sachs, once dismissive of Bitcoin, has revealed a significant shift in stance with major investments in the cryptocurrency. The bank holds $718 million across eight Bitcoin ETFs, including $461 million in BlackRock’s iShares Bitcoin Trust ETF (IBIT).
